MainStreet Investment Advisors LLC acquired a new position in shares of American Express (NYSE:AXP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 33,814 shares of the payment services company’s stock, valued at approximately $3,358,000.
Other large investors have also recently modified their holdings of the company. Trustcore Financial Services LLC bought a new stake in shares of American Express during the fourth quarter worth approximately $128,000. Zions Bancorporation boosted its holdings in shares of American Express by 912.9% during the third quarter. Zions Bancorporation now owns 1,337 shares of the payment services company’s stock worth $121,000 after acquiring an additional 1,205 shares during the period. Delpha Capital Management LLC bought a new stake in shares of American Express during the fourth quarter worth approximately $138,000. Focused Wealth Management Inc bought a new stake in shares of American Express during the fourth quarter worth approximately $139,000. Finally, First Dallas Securities Inc. bought a new stake in shares of American Express during the fourth quarter worth approximately $139,000. Institutional investors own 84.11% of the company’s stock.
NYSE AXP opened at $91.91 on Friday. The firm has a market cap of $79,068.24, a price-to-earnings ratio of 15.60, a P/E/G ratio of 1.26 and a beta of 1.14. American Express has a fifty-two week low of $75.51 and a fifty-two week high of $102.39. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 3.06.
American Express (NYSE:AXP) last posted its earnings results on Thursday, January 18th. The payment services company reported $1.58 earnings per share for the quarter, topping analysts’ consensus estimates of $1.54 by $0.04. The firm had revenue of $8.84 billion for the quarter, compared to analysts’ expectations of $8.73 billion. American Express had a net margin of 8.08% and a return on equity of 26.00%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. sell-side analysts predict that American Express will post 7.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 10th. Shareholders of record on Friday, April 6th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, April 5th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.52%. American Express’s payout ratio is presently 23.85%.
In other American Express news, insider James Peter Bush sold 13,356 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $98.65, for a total transaction of $1,317,569.40. Following the sale, the insider now owns 100,790 shares of the company’s stock, valued at $9,942,933.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.20% of the company’s stock.
A number of equities research analysts have recently weighed in on AXP shares. Zacks Investment Research upgraded shares of American Express from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research report on Thursday, January 11th. Morgan Stanley lifted their price target on shares of American Express from $108.00 to $109.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. Guggenheim downgraded shares of American Express from a “buy” rating to a “neutral” rating and lifted their price target for the company from $98.03 to $102.00 in a research report on Monday, January 22nd. Oppenheimer set a $117.00 price target on shares of American Express and gave the company a “buy” rating in a research report on Tuesday, March 13th. Finally, Sandler O’Neill set a $109.00 price target on shares of American Express and gave the company a “buy” rating in a research report on Thursday, March 15th. One analyst has rated the stock with a sell rating, seventeen have assigned a hold rating and thirteen have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $104.38.
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About American Express
American Express Company, together with its subsidiaries, provides charge and credit payment card products and travel-related services to consumers and businesses worldwide. It operates through four segments: U.S. Consumer Services, International Consumer and Network Services, Global Commercial Services, and Global Merchant Services.
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